Almost anywhere you go, you’ll see the housing market is back. New listings are popping up every day, and buyers are calling and emailing that they are interested in seeing “this house I found on the internet.”

After determining that they are not already working with another agent, I ask if they’ve talked with a lender about getting a pre-approval letter. Too often, that question is answered with, “No, but we just want to see this house.”

1. It will tell you how much house you can comfortably afford. One of the worst things that can happen during your home search is to find out you don’t qualify financially for the house you just saw and fell in love with.

2. It will tell you which loan program is the best fit for you and your current circumstances. How much do you have available for a down payment? How much will closing costs be? Which loan option offers the best percentage rate for you? Meet with a trusted lender who can help you navigate through all the financial questions.

3. It will put you in a much stronger position when it comes time to write an offer. Sellers want to know that any offer they receive is being submitted by a serious buyer — someone who is ready, willing and able to buy their home. Including a pre-approval letter with the offer is one of the best ways to prove that.

4. It allows you and me to use our time most efficiently. Your time is precious, and so is mine. Let’s use it the best way possible by focusing on those homes that meet what you are looking for as far as location, number of bedrooms and baths, and most importantly price.

Buying a house is a scary move and many first-time buyers are still very apprehensive about the process. However, the more you know, the easier it can be. One of the biggest questions that many first-time buyers have is how long the process really takes. Here’s a good breakdown of the process and timelines when you buy your very first home.

Many buyers take several weeks, even months deciding that they’re even going to buy a house. It may be a split-second decision or it may be something that buyers contemplate for quite a while. Statistics show that buyers under the age of 50 tend to search for homes about 11 weeks before actually finding one, whereas those over the age of 50 tend to look for about eight weeks. (According to the Home Buyer and Seller Generational Trends Report 2015)

On average it takes about 30 to 45 days to finalize all the documents necessary in order to close on a home. Finances take about a month and negotiations can take anywhere from an additional 10 days to 45 days.

If you need to get your credit in line this can take at least about eight weeks. If you’re just under the score for an FHA or conventional loan, you may want to spend a couple of months getting your finances in order and raising your credit score in order to get the best rate and terms.

If you already have a good credit score it takes about a week to research different mortgage options, which is a vital part of the home buying and borrowing process. You can literally save tens of thousands of dollars in interests and fees by researching the best loan for your needs. Buyers have choices of FHA loans which require a 3.5% down payment or conventional loans which typically require at least a 5% down payment and a credit score of 680. VA loans are also an option to help veterans and their families obtain excellent home financing.

Once you’ve decided on the mortgage, you’ll need about two days to a couple of weeks for preapproval. You want to seek preapproval prior to beginning your home search so that you have the documents in hand and you know exactly how much home you can afford. This process can take literally hours but could take up to a month depending on the type of loan you’re looking for, grants, personal assistance or increasing your credit score.

Next, you’ll need to find a real estate agent and this can happen in one day or can take up to a month if you’re interviewing different agents. You want to get an agent that specifically helps buyers. There are many listing agents and solely buyer’s agents and some do both. You’ll want to find an agent that is proficient in the market, understands homes that could be overpriced and knows how to find a great deal. Your buyer’s agent is your advocate during the home buying and negotiating process so it’s crucial that you find someone with whom you feel comfortable and can trust.

Researching potential homes and neighborhoods could take several weeks but it also can happen at the drop of a hat. You might be surprised as to all the homes you look at only to go back to the very first one you ever viewed. Start your search online by browsing all homes for sale in Sunset Beach and outlying areas. You might find something more affordable and larger in the city just outside of Myrtle Beach. Talk to your real estate agent about commute times, neighborhoods, school districts and what you really are looking for in a home purchase.

Read more: 5 Ways to Save for a Down Payment

Once you’ve made the decision to purchase a particular home the process is a little more streamlined. Negotiations can go on as long as the buyer and seller cannot agree. If buyer and seller agree to all negotiations from the first presentation of documents they can take no more than three days to have the property under contract. From there, you’ll move on to the home inspection.

Buyers typically have seven days to order and conduct a home inspection. The inspection will take anywhere from 2 to 4 hours and you want to a company your inspector to learn as much about your home as possible. After the inspection, negotiations will start up again if necessary. Buyers and sellers typically have three days to respond to certain requests and changes on the inspection report. This can go back and forth for several weeks until a mutual agreement is made. Again, this could happen immediately if the inspection is approved right away.

Once the inspection is approved the sale goes on to “pending”. From here, it can take anywhere from one week to several weeks for the final closing to happen based on the initial terms in the purchase and sale agreement. Perhaps the seller asked for a little bit more time to move out. There’s usually a date on which the closing is to happen. If it needs to be changed it will also require mutual acceptance. On average, after the inspection, it’s typically 3 to 4 weeks before the buyer can receive the keys to the new home.

Again, based on finances, negotiations and terms in the purchase and sale contract, most real estate transactions last anywhere from 30 to 60 days.

If you’re ready to get started looking at homes throughout the Sunset Beach real estate market please contact my office today or let me know if you need referrals for home inspectors or lending options and feel free to browse the site for all properties for sale throughout the area.

Fall is just around the corner. Maybe you are thinking about starting your home search as soon as the busyness of summer dies down ( or maybe you just want to enjoy your summer days as long as you can). Here are some tips for buying a home in the fall.

The Market

Home values typically see a slower rate of appreciation beginning in August. This is not true of all markets though so be sure to check with your experienced local agent about current market conditions in the area you want to buy.

Limited Selection

The peak selling season in most areas is the Spring. So homes that were put on the market have sold or sellers are frustrated and may take their home off the market to wait for next year as not to be burdened with the extra work of selling during the holidays.

More Negotiation Possibility

Homes that have been on the market since spring may have sellers more motivated to negotiate a lower price on their home. Sellers that are determined to sell their home will keep them on the market but know they may need to entertain a lower offer and come down in asking price a bit.

Maintenance

Fall is actually a great time to see how a home truly holds up during inspection time. The weather in fall turns a little wetter and stormier. This is a good time to see if there are any leaks or concerns in the structure of the home. It is also a good time to see how much the homeowner takes care of the landscaping and if there is proper drainage.

If you are looking for a better deal on a home and a truer look into the home’s condition fall is a good time to buy a home.

What our clients say

Zillow – WOIDATRC

"Real estate transactions are usually involved and this was no exception. From our first meeting to the final script on...

5.0

2017-12-19T22:13:46+00:00

"Real estate transactions are usually involved and this was no exception. From our first meeting to the final script on the purchase contract, Frank and Karen were extraordinary examples of sterling professionalism, care, and concern. Tell me how many buyer brokers would make trips to the potential purchase to check on progress and assure all was in order without being asked. Frank and Karen did. Tell me how many would go the extra mile sans any solicitation to protect the buyers interest during each and every step of a transaction. Frank and Karen did. Tell me how many people have earned your implicit trust for their consistent honesty and integrity. Frank and Karen did. Frank and Karen were expert at developing and maintaining a relationship--a rare talent these days, and more important to us than the actual purchase itself. My wife and I gained more than a new home -- we gained genuine friends. Frank and Karen are consummate buyer brokers and we cannot recommend them highly enough. Frank and Karen, thank you both for the pleasure of having made your acquaintance and for all of your assistance. R & L."

http://sunsetbeachandbeyond.com/testimonials/zillow-woidatrc/

Steve & Jean DeVito

“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to...

2015-03-16T20:17:46+00:00

“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to Sunset Beach they created a portal and populated it with properties that met our ever-evolving criteria. By time we arrived we had a good feel for what we could afford and what was available that met our criteria. The Bakers, especially Karen, were able to make sense of what we thought we were looking for and eventually matched us with a house that we ended up purchasing — Karen called it the “This is it” house and she was right. We are loving our 2nd home and appreciate how painless Karen and Frank made the process. All the paperwork was done seamlessly and quickly and the closing went off without a hitch. The Bakers do not believe in the hard sell — they gave us the knowledge we needed and the guidance we needed to make our dream a reality.”

http://sunsetbeachandbeyond.com/testimonials/steve-jean-devito/

Matt & Amy Carver

Amy and I have bought and sold four properties in the past twelve years. Both of you are the best...

2015-03-16T20:18:22+00:00

Amy and I have bought and sold four properties in the past twelve years. Both of you are the best realtors we have ever dealt with. Amy and I both felt we could trust you to look out for our interest. The level of service you provided was outstanding, from taking the trash out, helping the buyer with inspecting the irrigation system, dealing with our tenants, always being there if we needed to ask a question, providing constant updates on the market and always keeping us informed on the sale of our house. I think your next venture should be training other realtors, because both of you have mastered the art of providing excellent service. I will be sure to recommend the Frank and Karen team to anybody looking for a trust worthy, knowledgeable and top performing realtor. It was a pleasure working with both of you.”

http://sunsetbeachandbeyond.com/testimonials/matt-amy-carver/

Ernie & Carol G.

“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When...

2015-03-16T20:18:50+00:00

“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When we made up our minds which one we wanted, they got us the best deal on it. We were very satisfided with them. After the purchased was made & we moved in, they were still there to answer any questions or problems that we might of had. Like I said, they are the BEST.”

http://sunsetbeachandbeyond.com/testimonials/ernie-carol-g/

Dave & Rose

“Thanks again for all the time you spent with us, As overwhelming as it was, you two made it fun”

2015-03-16T20:19:23+00:00

“Thanks again for all the time you spent with us, As overwhelming as it was, you two made it fun”